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REC Limited ( (IN:RECLTD) ) has shared an announcement.
REC Limited has announced the incorporation of Munak Power Transmission Limited as a wholly owned subsidiary of its unit REC Power Development and Consultancy Limited, thereby making it an indirect subsidiary of REC. The new entity has been created to implement an intra-state transmission project in Haryana allocated by Haryana Vidyut Prasaran Nigam Limited, involving the development of a 400 kV substation at Munak and associated transmission lines to evacuate 800 MW of power from the DCRTPP plant in Yamunanagar; once a successful bidder is selected under tariff-based competitive bidding guidelines, the project company will be transferred to that bidder along with all its assets and liabilities, underscoring REC’s continuing role as a key bid process coordinator and facilitator of power transmission infrastructure rather than long-term asset owner in such projects.
More about REC Limited
REC Limited is a Government of India-owned Maharatna enterprise operating in the power sector, primarily engaged in financing and supporting power generation, transmission and distribution projects across India. Through its wholly owned subsidiary REC Power Development and Consultancy Limited (RECPDCL), the company also undertakes project development, consultancy and bid process coordination services for power infrastructure, particularly in transmission projects supporting state utilities and grid expansion.
Average Trading Volume: 361,727
Technical Sentiment Signal: Buy
Current Market Cap: 1003.5B INR
For detailed information about RECLTD stock, go to TipRanks’ Stock Analysis page.